Economic Development

Economic Development

From Historic to High-Tech, The place to grow is faribault! 

Driven by a motivated Economic Development Authority, the City of Faribault is your partner for economic success! Strategically located along Interstate 35, less than one hour from the Twin Cities Metro makes Faribault an ideal location to do business. With over 250 acres of prime industrial land along the Interstate Corridor, there is plenty of opportunity to accommodate projects of any size.

Named 2019 City of the Year by the Minnesota Real Estate Journal, Faribault has a proven track record of delivering the most complex of projects in a timely and efficient manner. 

With a growing workforce population and new housing developments, the City of Faribault is ready to accommodate your growing workforce needs. Partnering with South Central College's Center for Business and Industry our partnership is able to provide customized training opportunities specific to each business and industry. 

Want to learn more about the opportunities available? Contact us today to learn more!

​Economic Development News Release

Learn about all the exciting things happening in the Economic Development scene here in Faribault!
Funding Available

Small Business COVID-19 RELIEF GRANTS

 

To be eligible, a business must be a locally owned and operated for-profit business located within the city limits of Faribault, Minnesota, with 50 or fewer employees, and be able to demonstrate the following:
  • Business interruption caused by COVID-19 required closures due to executive orders or voluntary closure to promote social distancing;
  • Business must have been in operation for 6-months prior to March 20, 2020;
  • Applicant must be in compliance with relevant city ordinances and licensing requirements;
  • Applicant must be current on property taxes (if applicable).
To learn more about the Program, visit the Program Guidelines section! Online applications will be accepted beginning MONDAY JUNE 1 at 8:00AM until FRIDAY JUNE 12 at 5:00PM (or until all funds have been dispersed on a first-come first-serve basis).

* Note the online application will not be available until 8:00am on Monday June 1st. Staff will accept fillable forms beginning Monday June 1st at 8:00am via mail or email.
Online Application
Fillable Form

Downtown Commercial Rehabilitation &
Exterior Improvement Program

This program is a forgivable loan program to eligible property owners in the Downtown Central Business District. Loans are awarded depending on eligibility, availability of funds, and completeness of application. 

New for 2020, the Economic Development Authority has implemented a funding scale based upon the type of project to receive funding. Visit the Program Guidelines section to learn more!

Applications are now being accepted on a first-come first-serve basis. All eligible projects will be considered at the regularly scheduled monthly Economic Development Authority meetings.

Guidelines Application
Historic to High Tech